Power Mech Projects Limited Secures Operations and Maintenance Order from Maha Mumbai Metro Operation Corporation Limited
Power Mech Projects Limited has secured an order from Maha Mumbai Metro Operation Corporation Limited for the operations and maintenance of the Mumbai Monorail.The contract involves the scope of work for the Operations and Maintenance of Mumbai Monorail, covering a 19.54 km corridor featuring 17 stations, which connects Sant Gadge Maharaj Chowk to Chembur. The entity awarding the contract is Maha Mumbai Metro Operation Corporation Limited, identified with CIN: U74999MH2019SGC326460.
Key details regarding the awarded contract are as follows:
| Detail | Description |
|---|---|
| Name of Awarding Entity | Maha Mumbai Metro Operation Corporation Limited |
| Scope of Work | Operations and Maintenance of Mumbai Monorail (19.54 km corridor featuring 17 stations, connecting Sant Gadge Maharaj Chowk to Chembur) |
| Nature of Contract | Operations and Maintenance |
| Awarding Type | Domestic Entity |
| Execution Period | Five years |
| Consideration Size | ₹ 296.44 Crores (Excluding Goods & Services Tax) |
The contract is classified as a domestic order, and the transaction size amounts to ₹ 296.44 Crores, excluding Goods & Services Tax. The contract is set to be executed over a period of five years. Furthermore, the documentation indicated that the awarding entity has no interest in the promoter or promoter group, and the order does not fall within related party transactions.
POWERMECH Stock Price Movement
Shares of Power Mech Projects Limited are rallying up to ₹2225.9 as of 11:30 AM today, having climbed 7.12% in live trading. The stock is sustaining significant momentum, with the share volume hitting 147,169 in the morning session.Source:
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